<p>The West Java administration plans to issue municipal bonds worth Rp 4 trillion (US$329.8 million) to finance the construction of Kertajati International Airport, which will be located in the province's Majalengka district.</p><p>"We are now seeking approval from the Provincial Legislative Council's [DPRD] Commission C, overseeing finance and economic affairs. Once we've got the approval, the governor will apply for a permit from the Finance Ministry," the province's economic administration bureau chief, Sonny Samsu Adisudarma, told reporters on Thursday.</p><p>He said the proceeds from the bond sales would be used as equity by the provincial administration in PT Bandara Internasional Jawa Barat (BIJB), which will be established to manage the airport's construction worth up to Rp 8 trillion.</p><p>"The administration will hold a 75 percent stake in BIJB. The other 25 percent will be offered to investors," Sonny said.</p><p><a href="http://www.thejakartapost.com/news/2014/01/25/west-java-plans-rp-4-trillion-bonds-finance-airport-build.html">Keep reading...</a></p>